Rahul Gandhi and Madhabi Buch (ANI)
New Delhi: In the wake of fresh claims from the Hindenburg report, Congress president Mallikarjun Kharge and Rahul Gandhi on Sunday intensified their demand for a Joint Parliamentary Committee (JPC) to investigate allegations of a quid pro quo between the Adani Group and SEBI chief Madhabi Buch. They warned that the investments of small and medium investors are at serious risk, urging the government to act swiftly.
Rahul Gandhi took a strong stance, calling for the immediate sacking of the SEBI chief and questioning whether the Supreme Court will revisit the matter. The Aam Aadmi Party (AAP) also joined the fray, with demands for Prime Minister Narendra Modi's resignation over the issue.
Taking it to his official X handle, Rahul Gandhi in a video message asked several questions:
The integrity of SEBI, the securities regulator entrusted with safeguarding the wealth of small retail investors, has been gravely compromised by the allegations against its Chairperson.
— Rahul Gandhi (@RahulGandhi) August 11, 2024
Honest investors across the country have pressing questions for the government:
- Why… pic.twitter.com/vZlEl8Qb4b
The Samajwadi Party (SP) chief expressed his concerns on X, formerly known as Twitter, stating that SEBI has historically failed to protect investors. He called for a comprehensive and impartial investigation to restore confidence in India's financial markets. "Only an impartial investigation can restore SEBI’s reputation and instill a sense of security in investing in the Indian markets," he wrote.
SEBI की ऐतिहासिक जाँच होनी चाहिए क्योंकि सेबी का इतिहास ही ऐसा रहा है कि वो कभी सही मायनों में निवेशकों का सरंक्षक व सहारा नहीं बना।
— Akhilesh Yadav (@yadavakhilesh) August 11, 2024
भारत के बाज़ार में निवेश के प्रति सुरक्षा की भावना जगाने के लिए SEBI की प्रतिष्ठा की पुनर्स्थापना केवल एक निष्पक्ष जाँच ही कर सकती है।
SEBI…
Kharge did not hold back in his criticism, labeling Adani a close associate of PM Modi. He reminded the public that SEBI had previously cleared Adani following the initial Hindenburg report in January 2023. "A JPC inquiry is imperative to investigate this massive scandal. Until then, concerns persist that PM Modi will continue to shield his ally, compromising India’s constitutional institutions," he said.
SEBI ने माननीय सुप्रीम कोर्ट के समक्ष मोदी जी के परम मित्र अडानी को हिंडनबर्ग के जनवरी 2023 के ख़ुलासों में Clean Chit दी थी।
— Mallikarjun Kharge (@kharge) August 11, 2024
आज उसी SEBI के मुखिया के तथाकथित वित्तीय रिश्ते उजागर हुए हैं।
मध्यम वर्ग से संबंधित छोटे और मध्यम निवेशकों, जो अपनी मेहनत की कमाई शेयर बाजार में…
Congress spokesperson Jairam Ramesh highlighted that the Supreme Court’s expert panel had noted SEBI’s unusual reluctance to probe the Adani case. He pointed out that SEBI had diluted and eventually removed the reporting requirements for the ultimate beneficial ownership of foreign funds in 2018 and 2019, respectively. This, he argued, hindered the expert panel’s ability to uncover the full extent of the irregularities.
AAP leader Sanjay Singh also questioned the credibility of SEBI’s reports to the Supreme Court on the Adani investigation. He urged the Court to take cognizance of the situation, stating, "Any statement or report made by the SEBI chief in the SC on Adani’s probe has no meaning. The truth has been hidden from the Court."
आज फिर पुराने ज़ख़्म हरे हो गये , “मोदी अडानी भाई भाई देश बेचकर खाई मलाई” वाले नारे की वजह से ही मुझे जेल भेजा गया था।
— Sanjay Singh AAP (@SanjayAzadSln) August 11, 2024
मैं सच था।
हिंडनबर्ग की रिपोर्ट में खुलासा हुआ है।
अडानी के घोटाले की जाँच जानबूझकर दबाई गई सुप्रीम कोर्ट से झूठ बोला गया। pic.twitter.com/Yxok5XQoNp
Congress Spokesperson Questions Government's Actions
Congress spokesperson Supriya Shrinate raised further concerns, asking whether the government curtailed the Budget session of Parliament in anticipation of the Hindenburg report's release.
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